Guideline Value for Chelliamman Nagar 2nd Street

Chelliamman Nagar 2nd Street guideline value

The current guideline value of Chelliamman Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Chelliamman Nagar 2nd Street has changed

The guideline value for Chelliamman Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, reflecting an increase of 64% from the 2017 figure.

There are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Chelliamman Nagar 2nd Street.

• Chelliamman Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chelliamman Nagar 2nd Street?

The Chelliamman Nagar 2nd Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is a crucial factor when buying or selling property in Kolathur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are required during the property transaction process.

It is important for buyers and sellers to be aware of the guideline value as it can influence negotiations and the overall cost of the transaction. Understanding the guideline value helps ensure compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar 2nd Street?

The current guideline value of Chelliamman Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 230%. There were decreases and increases in various revisions, with the most recent revision showing a 64% increase from 2017 to 2024.

What is the land classification for Chelliamman Nagar 2nd Street?

The land classification for Chelliamman Nagar 2nd Street is Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

What fees are associated with buying property in Chelliamman Nagar 2nd Street?

When buying property, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a total of Rs 2,97,000 in fees.